Retailers are subject to a monthly advance tax, which is determined by a valuation table that has been reassessed by the Federal Board of Revenue (FBR). This decision is the result of a meeting with President Ajmal Baloch’s delegation from the All Pakistan Anjuman-e-Tajran.
The FBR notified traders about the “Tajir Dost Scheme,” which mandates that retailers register and pay their taxes, during the meeting. Just 277 retailers have complied with this initiative thus far, making a total contribution of Rs503,632.
The association’s worries about the current value tables and how they affect businesses across the country were conveyed by Ajmal Baloch.
The FBR has suggested that traders and FBR officials form a joint committee to examine these tables and handle further issues brought up by the industry.
